Dutch Bros (NYSE:BROS) stock is getting a boost on Monday after JPMorgan analyst John Ivankoe weighed in on the coffee company’s shares.
The JPMorgan analyst upgraded shares of BROS stock from a “neutral” rating to an “overweight” rating. For the record, the analyst consensus rating for BROS shares is hold based on nine opinions.
To go along with that upgrade, Ivankoe increased the firm’s price target for BROS stock from $30 per share to $35. That represents a potential upside of 25.7% over Friday’s close. It’s also bullish compared to the analyst consensus price prediction of $33.30 per share.
What’s Behind the BROS Stock Upgrade?
Here’s what the JPMorgan analyst had to say about Dutch Bros in a note to clients obtained by Seeking Alpha:
“BROS now has strong available liquidity comprised of $150m of cash + $350m of availability under its undrawn revolver + $200m undrawn delayed draw term loan to provide funding comfort until turning FCF positive in 2027 – until the company reaches our 4,000 unit TAM by 2037.”
BROS stock is up 1.7% as of Monday morning as some 813,000 shares change hands. For the record, its daily average trading volume is about 1.2 million shares.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.